Home Business Uber Acquires TPG’s Freight Company Transplace for $2.25 Billion – Bloomberg

Uber Acquires TPG’s Freight Company Transplace for $2.25 Billion – Bloomberg

by Bioreports

Uber Technologies Inc. will acquire Transplace, a logistics company owned by TPG Capital, for $2.25 billion in the company’s biggest bet on the trucking business.

The deal is designed to help Uber’s freight arm break even more quickly, the San Francisco-based company said in a statement. Uber Freight will turn its first adjusted earnings before interest, taxes and other expenses by the end of next year, the parent company said. The unit generated $995 million in revenue last year.

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